Reductions in the Co-op Power Rate, Member Service Charge Help Offset Other Rate Changes

PLYMOUTH, N.H. — The New Hampshire Electric Cooperative Board of Directors has approved two rate changes that will raise the average residential member bills by 1 percent.

For the average residential member of the Co-op who uses 573 kilowatt-hours per month, the combined impact of both changes will be about $1.37 per month or approximately 0.9 percent more than they currently pay. Please note, these changes are not reflective of what members who receive power from a community power aggregation or competitive energy supplier will experience.

“With big cost increases for wires and transformers in recent years, and significant electric rate increases all around us, this is a spectacular result for our members. The board worked closely with staff to sharpen our pencils and achieve the lowest possible cost while maintaining reliability,” said Co-op Board Chair Bill Darcy.

“We understand that many of our members are facing higher costs for everyday necessities, which is why we worked hard to keep electric bill increases as low as possible,” said Michael Jennings, Co-op President & CEO. “Affordability and reliability remain our top priorities, and we will continue to take a strategic, thoughtful approach to rate setting.”

Beginning Jan. 1, the Distribution kWh Charge will increase from 4.7 cents per kilowatt-hour to 5.9 cents. This will be largely offset by a $5.66 reduction in the monthly Member Service Charge.

On Feb. 1, the Co-op Power Charge will decrease from 11.5 cents per kilowatt-hour to 11.1 cents, while the Regional Access Charge will rise from 3.9 cents per kilowatt-hour to 4.3 cents.

The Co-op Power Charge represents the actual cost of electricity purchased for members, while the Regional Access Charge reflects the cost to the Co-op of accessing the regional transmission grid.

For more details, including the current schedule of rates, visit https://www.nhec.com/schedule-of-fees-rates/.